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Jun 13, 2012
06/12
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morgan chase diamond apologized for a trading loss that cost the bank more than $2 billion. >> this portfolio is something that rather than protect the firm created new and larger risks. we have let a lot of people down and we are very sorry for it. >> several protestors disrupted the hearing before diamond testified. they were escorted out and arrested. diamond said the bank has taken the steps to make sure the same mistake does not happen again. the bank has also named a new person to be in charge of the division it responsible for the loss. it is conducting an internal review of what went wrong. >> our seniors and people with disabilities have been at the forefront of budget cuts for the last four years. they have had enough. >>> battle of the budget is heating up. only days away. bay area has cooled down. mark is up for an in a few minutes for specifics about your neighborhood. >> fire and police investigating a suspicious fire in redwood city. why dozens of residents cannot return to their home. make the switch! [ female announcer ] call to get u-verse -- now with free hd -- for only 25
morgan chase diamond apologized for a trading loss that cost the bank more than $2 billion. >> this portfolio is something that rather than protect the firm created new and larger risks. we have let a lot of people down and we are very sorry for it. >> several protestors disrupted the hearing before diamond testified. they were escorted out and arrested. diamond said the bank has taken the steps to make sure the same mistake does not happen again. the bank has also named a new...
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morgan's jamie diamond j.p. morgan chase so take a look at what kind of lapdogs the friends. banks can buy in washington these days. you're obviously renowned rightfully so i think is me one of the most you know one of the best c.e.o.'s in the conferee for financial institutions you missed this it's a blip on the radar schrank i really appreciate you voluntarily coming in to talk with us it is important we talk about things happening in the industry it'll i think advise us help us and as we look forward and hopefully it will contribute to the best practice scenario in the industry and i appreciate your input on that continuous quality improvement it's comforting to know that even with a two million dollars two billion dollar loss in a trade last year your company still i think had a nineteen billion dollar profit you made the statement the answer isn't more regulation it's smarter stronger regulation and i absolutely strongly agree with that did you volunteer to to be part of that kind. of me and lots of the folks that will do whatever you want where you can get apartments do
morgan's jamie diamond j.p. morgan chase so take a look at what kind of lapdogs the friends. banks can buy in washington these days. you're obviously renowned rightfully so i think is me one of the most you know one of the best c.e.o.'s in the conferee for financial institutions you missed this it's a blip on the radar schrank i really appreciate you voluntarily coming in to talk with us it is important we talk about things happening in the industry it'll i think advise us help us and as we...
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morgan chase c.e.o. jamie diamond to testify on his bank's massive three billion dollar loss last month rather than asking tough questions about how something like this could happen just how reliable our banking system is and whether or not this proves the new financial regulations are needed most senators on the committee decided it was a great venue to kiss diamonds ring here are a few examples you're obviously renowned rightfully so i think is me one of the most you know one of the best c.e.o.'s in the country for financial institutions you miss this it's a blip on the radar schrank i really appreciate you voluntarily coming in to talk with us some it is important we talk about things happening in the industry it'll i think advise was help us and them. as we look forward and hopefully it'll contribute to best practice scenario in the industry and i appreciate your input on a continuous quality improvement it's comforting to know that even with a two million dollars two billion dollar loss in a trade l
morgan chase c.e.o. jamie diamond to testify on his bank's massive three billion dollar loss last month rather than asking tough questions about how something like this could happen just how reliable our banking system is and whether or not this proves the new financial regulations are needed most senators on the committee decided it was a great venue to kiss diamonds ring here are a few examples you're obviously renowned rightfully so i think is me one of the most you know one of the best...
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and one more story to keep an eye on tonight j.p. morgan chase c.e.o. jane diamond faced off with the senate banking committee today where he was grilled over his bank's three billion dollars in losses earlier this year but diamond didn't get most of the heat from the senators many of whom have received generous campaign donations from diamond's bank instead he got heat from average americans who showed up at the here at the hearing to speak their minds even before the hearing started protesters shouted down diamon as going in to face the people he's foreclosed on and to stop the foreclosures now tragically we can no longer rely on our bought out members of congress to hold the banks to as accountable anymore instead we the people have to do it and one of the best ways to do it is to move your money out of wall street banks like j.p. morgan chase and into local credit unions so let's get moving. h.t. . it's the good the bad of the very very agatha. cole lauded jerkily ugly but good workers add all of their own t.p. . l. of their own was greece's second
and one more story to keep an eye on tonight j.p. morgan chase c.e.o. jane diamond faced off with the senate banking committee today where he was grilled over his bank's three billion dollars in losses earlier this year but diamond didn't get most of the heat from the senators many of whom have received generous campaign donations from diamond's bank instead he got heat from average americans who showed up at the here at the hearing to speak their minds even before the hearing started...
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Jun 20, 2012
06/12
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morgan chase ceo jamie diamond was back in the hot seat around two of questioning on capitol hill. he was called before the house financial services committee to explain his bank's trading loss. he apologized again for the losses. since may 10th they have lost about $23 billion of market value. >> tell us about the new study on billionaires' >> for the first time there are more millionaires in asia than in north america. a new report shows the asian- pacific region has 3.3 7 million high net worth individuals, about 20,000 more than north america but north americans still hold a bigger share of the world's wealth at 11.4 trillion dollars. >> the city of san francisco will investigate the popular bakery chain la boulange. employees of the company which starbucks recently bought claims that it has not been following the health care law that requires them to offer health benefits to certain employees. one former manager who didn't want to be identified told us this >> the company paid it's an image about caring about its employees and its community and customers and i think something
morgan chase ceo jamie diamond was back in the hot seat around two of questioning on capitol hill. he was called before the house financial services committee to explain his bank's trading loss. he apologized again for the losses. since may 10th they have lost about $23 billion of market value. >> tell us about the new study on billionaires' >> for the first time there are more millionaires in asia than in north america. a new report shows the asian- pacific region has 3.3 7 million...
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Jun 14, 2012
06/12
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j.p. chase morgan ceo jamie diamond apologize to date. lawmakers grilled him about the bad debts that cost the bank billions. he apologized for the risky trades and said that the senior executives involved will probably lose some of their pay >> they should take personal responsibility since they were following the game plan that you personally laid out? >> that is why i'm here, i'm absolutely responsible and the buck stops with me >> he says no taxpayer money was impacted and also told lawmakers steps had been taken to keep it from happening again. u.s. stocks are indeed lower as investors worry about the european debt crisis. >> cycling legend lance armstrong faces new doping charges. he confirmed on twitter that the u.s. anti-dumping agency accuses him of using performance enhancing drugs. >> former cycling legend lance armstrong reportedly faces new drug charges brought by the anti-dumping agency. his seven titles could be in jeopardy and he has been immediately banned from competition in triathlons, a sport he took up after retiring
j.p. chase morgan ceo jamie diamond apologize to date. lawmakers grilled him about the bad debts that cost the bank billions. he apologized for the risky trades and said that the senior executives involved will probably lose some of their pay >> they should take personal responsibility since they were following the game plan that you personally laid out? >> that is why i'm here, i'm absolutely responsible and the buck stops with me >> he says no taxpayer money was impacted and...
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jamie diamond explaining how j.p. morgan chase lost more than two were billion dollars attorney general eric holder facing new fire from republicans over the fast and furious botched gun sting programs president obama and mitt romney trade barbs over who understands the economic suffering of americans more care i'm only a kid and not being greedy and seen your traditional ice cream sundaes really special elections that are seat once held by the injured congresswoman gabrielle giffords rushes defending its sale of arms to the syrian government but then accusing the u.s. of arming the other side shellie zimmerman is accused of lying about the couple's finances during his april bail hearing eighteen month old is exacted from the getaway car as those teenagers tried to escape officials following the robbery have you seen one of those sort of freaky looking sleep apnea masks well there's a new study that suggests they might cure more than just sleeping problems prosecutors lay the groundwork in an already damaging case aga
jamie diamond explaining how j.p. morgan chase lost more than two were billion dollars attorney general eric holder facing new fire from republicans over the fast and furious botched gun sting programs president obama and mitt romney trade barbs over who understands the economic suffering of americans more care i'm only a kid and not being greedy and seen your traditional ice cream sundaes really special elections that are seat once held by the injured congresswoman gabrielle giffords rushes...
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Jun 13, 2012
06/12
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morgan chase apologizing will be back in less than 10 minutes a year from jamie diamond. the supervisors and mountain view to permit some of the county to take operations of the park in santa rosa. the county park agency is supposed to manage and cover the 280,000 operating costs -- 280,000 of our operating costs for the nation. >>james: thomas kente kincaid died earlier. his girlfriend found his body. she has papers written by can take this grant cert the mansion and $20 million but the museum. the courts of looking to see if it is valid. >>darya: they're hoping that this attracts more people to treat this like a world resort. this is one of the better ride spread of the ride. walt disney said it was clearly a problem with the park and that they have corrected it. >> is moving his enthusiasm. president. president obama and his enthusiasm is falling. a bomb has 46.3% from the has 43 + 6%. >>mark: . getting an update from america on the other. there is a lot of cloud cover everywhere else. and fluffy. our cloud is made of bedrock. concrete. and steel. our cloud is the smar
morgan chase apologizing will be back in less than 10 minutes a year from jamie diamond. the supervisors and mountain view to permit some of the county to take operations of the park in santa rosa. the county park agency is supposed to manage and cover the 280,000 operating costs -- 280,000 of our operating costs for the nation. >>james: thomas kente kincaid died earlier. his girlfriend found his body. she has papers written by can take this grant cert the mansion and $20 million but the...
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morgan chase is this fourth largest career donor or is it his large span of career in the u.s. congress so all these people are essentially charged with holding accountable the very same people who enabled them to be there in the congress it's almost like they don't work for the voters to vote for them but for the people who have to raise the amount of money it takes to run a campaign for the u.s. senate so it seems that it's bipartisan although you know i watched a good chunk of yesterday's hearings and an end is and in particular jeff merkley ripped of the sky i mean just ripped him and i want open secrets and menendez has taken a total of two thousand dollars from them and merkley nothing as far as i can tell so it seems like there's a kind of a one on one association it's remarkable i'd say the toughest senators on diamond where merkley i think in oregon and also menendez from new jersey and if you look neither of them has taken any money from j.p. morgan this cycle and they've taken very little in the past share brown was also very very similar situation john tester was th
morgan chase is this fourth largest career donor or is it his large span of career in the u.s. congress so all these people are essentially charged with holding accountable the very same people who enabled them to be there in the congress it's almost like they don't work for the voters to vote for them but for the people who have to raise the amount of money it takes to run a campaign for the u.s. senate so it seems that it's bipartisan although you know i watched a good chunk of yesterday's...
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Jun 20, 2012
06/12
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. >> diamond in the rough. the ceo of j.p. morgan chase had a much tougher reception at capitol hill over the bank's $2 billion trading loss. members of the house financial services committee were far more combative than the senate banking committee was last week. representatives pressed him on whether the bank was too large or too complex to control and why so much trading was done from their london offices. in hindsight, the traders did not have the requisite understanding of the risk they took. san francisco's j.p. morgan chase building was one of 16 nationwide offices to be surrounded by activists supporting a robinhood tax on wall street. student, activists and union members wore robinhood hats to claim access. they claim a tax of 50 cents could raise up to $350 billion a year for health care, jobs and education. >> we all know wall street paid their fair share. chase needs to pay their fair share. >> the u.s. government has imposed taxes on stock trades and transfers off and on since 1798. >>> still ahead at 5:00, our "b
. >> diamond in the rough. the ceo of j.p. morgan chase had a much tougher reception at capitol hill over the bank's $2 billion trading loss. members of the house financial services committee were far more combative than the senate banking committee was last week. representatives pressed him on whether the bank was too large or too complex to control and why so much trading was done from their london offices. in hindsight, the traders did not have the requisite understanding of the risk...
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Jun 16, 2012
06/12
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morgan chase ceo jamie diamond testifies tuesday before the house financial services committee about his companies $2 billion trading loss. live coverage begins at 10:00 a.m. eastern on c-span3 and c- span radio. >> in his weekly radio address, president obama talks about creating more jobs for the middle class. he called on republicans to cooperate with his administration and passed all the provisions in the jobs bill. wisconsin governor scott walker gives this week's republican response. he criticizes the obama administration for exercising too much control in enacting economic policies. >> over the last few weeks, i've been talking a lot about america's economic future. i've told you how i believe we should go about creating strong, sustained growth, how we should pay down our long-term debt in a balanced way, and most of all, what we should do right now to create good, middle-class jobs, so people who work hard can get ahead. this isn't some abstract debate or trivial argument. i've said that this is the defining issue of our time, and i mean it. i've said that this is a make- or
morgan chase ceo jamie diamond testifies tuesday before the house financial services committee about his companies $2 billion trading loss. live coverage begins at 10:00 a.m. eastern on c-span3 and c- span radio. >> in his weekly radio address, president obama talks about creating more jobs for the middle class. he called on republicans to cooperate with his administration and passed all the provisions in the jobs bill. wisconsin governor scott walker gives this week's republican...
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Jun 13, 2012
06/12
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morgan chase about his firm's $2 billion loss from risky trades. he apologized for the massive trading blunder and said that no customer or taxpayer money was affected. >> we can never say that we will not make mistakes, in fact we know that we will make mistakes, we do believe that this was an isolated events. >> diamond also said that bank executives responsible for the loss will have some of their pay taken back by the company. another alleged victim takes the stand in the child sexual abuse trial against a former penn state coach. the victim now 25 told the court that jury sandusky threatened him saying that he would never see his family again if he reported the abuse. the father of the key witness, former coach mike cleary, also testified today saying that his son was upset after he saw jerry sandusky in the shower with a young boy. jury sandusky denies all the charges. another major recall, the potentially serious flaw in more than 50,000 honda civic, and a vanilla sunday with a side of bacon, a sweet and salty concoction hitting a burger kin
morgan chase about his firm's $2 billion loss from risky trades. he apologized for the massive trading blunder and said that no customer or taxpayer money was affected. >> we can never say that we will not make mistakes, in fact we know that we will make mistakes, we do believe that this was an isolated events. >> diamond also said that bank executives responsible for the loss will have some of their pay taken back by the company. another alleged victim takes the stand in the child...
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Jun 13, 2012
06/12
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. >> reporter: an apologetic jamie diamond tells congress that mistakes at his bank, j.p. morgan chase, contributed to the recent trading losses of more than $2 billion. >> we have let a lot of people down, and we're sorry for it. >> reporter: appearing before the senate banking committee, the ceo testified that shareholder money was lost. the clients and taxpayers don't have to foot the bill and the bank remains profitable. still, he said it's clear that mistakes were pervasive from the top down. >> and to see the trader didn't have the understanding of the risks they took. they should have gotten more scrutiny from senior management and i include myself in. that. >> reporter: and clearly frustrated lawmakers made it clear they don't know how the u.s.'s largest bank could put the entire u.s. financial system at risk this way. >> j.p. morgan enjoyed the strong reputation for effective risk management, something, obviously, went very wrong. >> and out-of-control strategy was -- to no risk controls. >> reporter: simon said the bank made a number of changes to ensure losses o
. >> reporter: an apologetic jamie diamond tells congress that mistakes at his bank, j.p. morgan chase, contributed to the recent trading losses of more than $2 billion. >> we have let a lot of people down, and we're sorry for it. >> reporter: appearing before the senate banking committee, the ceo testified that shareholder money was lost. the clients and taxpayers don't have to foot the bill and the bank remains profitable. still, he said it's clear that mistakes were...
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Jun 13, 2012
06/12
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morgan chase came to explain how his bank lost more than $2 million. jamie diamond apologized. but said he wants congress to put it in perspective. >> no client, customer, or taxpayer money was impact the by this event. >> senators asked diamond why he was pointing the finger at the bank's investing unit. >> watching you take personal responsibility since they were following the game plan that you personally layed out? >> that's why i'm he
morgan chase came to explain how his bank lost more than $2 million. jamie diamond apologized. but said he wants congress to put it in perspective. >> no client, customer, or taxpayer money was impact the by this event. >> senators asked diamond why he was pointing the finger at the bank's investing unit. >> watching you take personal responsibility since they were following the game plan that you personally layed out? >> that's why i'm he
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Jun 14, 2012
06/12
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morgan chase came to explain how his bank lost more than $2 billion on risky trades. jamie diamond apologized but said that he wants congress to put it in perspective. >> no client, a taxpayer, was impacted by this event. >> senators asked him why he was pointing the finger at the banks investing units. >> should you take personal responsibility because there were following your game plan? >> that is why i'm here, i made a mistake in immensely responsible. >> he did say that trees would probably take a back from senior executives involved in the risky trades. the hearing comes as congress finalizes new banking regulations including the so- called balkan rule that is designed to prevent banks from making risky trades. >> it has not been written yet, it is very complicated, >> lawmakers are trying to get a handle on whether big banks are still a big risk. >> what would you do to make the system are safe? >> the biggest disappointment is that we have never actually sat down, republicans and democrats, businesses, and had a detailed conversation about what went wrong and
morgan chase came to explain how his bank lost more than $2 billion on risky trades. jamie diamond apologized but said that he wants congress to put it in perspective. >> no client, a taxpayer, was impacted by this event. >> senators asked him why he was pointing the finger at the banks investing units. >> should you take personal responsibility because there were following your game plan? >> that is why i'm here, i made a mistake in immensely responsible. >> he...
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Jun 19, 2012
06/12
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>>> another grilling on capitol hill today for j.p. morgan chase, coe. he was once again fielding questions from members of congress about his firm's $2 billion plus trading loss. diamond again apologized to lawmakers. he said he is sorry to be taking up people's time because the loss is not significant when compared to other economic issues around the world. >> we feel terrible, but no client, customer, or taxpayer money was affected by the incident. >> diamond told lawmakers j.p. morgan is not too big to be allowed to fail. >> leaders are wrapping up their two-day meeting in mexico. the big focus, how to keep europe's financial crisis from spreading over here? danielle nottingham has more. >> reporter: g-20 leaders are trying to remain optimistic. there's a lot at stake, especially for the white house if the european financial crisis does not turn around. the leaders of the world's to largest economies smile for their official photo. the seriousness of europe's financial problem dominated their meeting. >> we are going to be working under your leadersh
>>> another grilling on capitol hill today for j.p. morgan chase, coe. he was once again fielding questions from members of congress about his firm's $2 billion plus trading loss. diamond again apologized to lawmakers. he said he is sorry to be taking up people's time because the loss is not significant when compared to other economic issues around the world. >> we feel terrible, but no client, customer, or taxpayer money was affected by the incident. >> diamond told...
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Jun 14, 2012
06/12
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morgan chase saying senior executives could pay the price for the banks billion-dollar mistake. last month, the bank reported it had lost at least $2 billion on risky trades. diamond saying that management is responsible and some top executives will likely have to pay back their bonuses. now back to "on the record" with greta. abuse. >> a stunner in the ring, outrage in the boxing world. a public outcry leading to the official review of the boxing match. the world boxing organization saying it would look at victory. the shock wave, even reaching capitol hill. harry reed is the chairman of the nevada gaming commission. he spoke with griff jenkins. >> reporter: an an accomplished boxer yourself, what did you make of this fight? >> i was disappointed the fight turned out the way it d. i am a big packio fan. but it's been a troubling few days for me. bob aaron was a very close friend of mine. the judge, dwayne ford, who was one of the judges that ruled... a way that no one thinks the fight turned out, really is upsetting to me. i like dwayne, i like bob. of course, the champ, i like
morgan chase saying senior executives could pay the price for the banks billion-dollar mistake. last month, the bank reported it had lost at least $2 billion on risky trades. diamond saying that management is responsible and some top executives will likely have to pay back their bonuses. now back to "on the record" with greta. abuse. >> a stunner in the ring, outrage in the boxing world. a public outcry leading to the official review of the boxing match. the world boxing...